Warby Parker Inc. (NYSE:WRBY) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $17.00.

A number of research analysts recently weighed in on WRBY shares. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Loop Capital raised their price objective on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group raised Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares in the company, valued at approximately $2,467,083.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $158,301. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,178 shares of company stock worth $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WRBY. Vaughan Nelson Investment Management L.P. raised its position in Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after purchasing an additional 1,315,672 shares in the last quarter. Marshall Wace LLP raised its position in Warby Parker by 1,013.4% in the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after purchasing an additional 1,295,136 shares in the last quarter. TimesSquare Capital Management LLC raised its position in Warby Parker by 149.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after purchasing an additional 1,011,030 shares in the last quarter. Vanguard Group Inc. raised its position in Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after purchasing an additional 607,352 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after purchasing an additional 481,900 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Price Performance

WRBY opened at $17.21 on Tuesday. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $18.37. The business has a 50-day moving average of $15.33 and a 200-day moving average of $15.24. The company has a market capitalization of $1.73 billion, a PE ratio of -44.13 and a beta of 1.82.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The company had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. On average, equities research analysts expect that Warby Parker will post -0.04 earnings per share for the current fiscal year.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.